By Catherine Pillas, Businessmirror, JANUARY 10, 2017
PHILIPPINES auto assemblers grew by 24.6 percent in 2016, outpacing its growth in 2015 and its modest target of a 10-percent growth for last year.
In a joint statement on Tuesday, the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and the Truck Manufacturers Association (TMA) announced sales rose by 24.6 percent for sales of 359,572 units in 2016.
“This exceeded the group’s target for the year of 329,300 units, and will certainly meet the 2016 combined target with other industry players of 370,000 units,” the group statement declared.
For the entire auto industry, including auto importers, Campi First Vice President Rommel Gutierrez earlier predicted sales to reach 370,000 to 380,000 units.
The passenger-car segment recorded 133,188 units sold during the year, an increase of 14.4 percent, from the 2015 total sales of 116,381 units, while commercial vehicles segment posted a total of 226,384 units, representing a 31.4-percent increase, from the 172,228 units sold in 2015.
Last year Campi-TMA garnered a growth of 22.9 percent, with members’ sales reaching 288,609 units, a marked improvement from the 234,747 units sold the previous year.
Together with auto importers, the total auto industry sales in 2015 was around 341,679 units.
Toyota Motor Philippines Corp. now captures 44.14-percent share of the market. Mitsubishi Motor Philippines Corp. has a 17.08-percent market share, while Ford Motor Co. registered 9.37-percent market share. Isuzu Philippines Corp. had 7.61 percent share, followed by Honda Cars Philippines Inc., with 6.45-percent market share.